Friday, August 31, 2007

Oil Service And Biotech ETFs Poised For Breakout

NOTE: Please click on the charts below to enlarge them if they do not appear clearly.Creating an unusual mirror image of the previous day’s action, yesterday’s broad market strength nearly matched Tuesday’s weakness. All of the major indices gained approximately 2% or more and finished at their intraday highs. The Nasdaq Composite cruised 2.5% higher, the S&P 500 rallied 2.2%, and the Dow Jones Industrial Average advanced 1.9%. The small-cap Russell 2000 and S&P Midcap 400 indices were higher by 2.5% and 2.4% respectively. Despite whipsaw [...]

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[Source: The Money Blogs]

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